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Code 2 College EIN 81-2361556

Code 2 College FY2023 filing

EIN  81-2361556 Higher education institution Pflugerville, TX Founded 2016
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Verified accurate 9/1/26 · see original filing: IRS
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Size
$1–10M
What they do
Teaches coding and web development to underrepresented students, guiding them to college and STEM careers.
Leadership
Matt Stephenson · Executive Director · $350K
Money in and out
$2.1M revenue, $3.5M expenses
Bottom line
-69% operating surplus

Teaches coding and web development to underrepresented students, guiding them to college and STEM careers. For fiscal year 2023 it reported $2.1M in revenue, $3.5M in expenses, and $291K in net assets.Pt I

Financial scale & money flow · FY2023
Total revenue
$2.1M
Pt VIII · Ln 12
Total expenses
$3.5M
Pt IX · Ln 25
Net assets
$291K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1.4M
Where spending went · Part IX cols B–D
Program services $0.76 Management & general $0.10 Fundraising $0.14
Operating surplus
-69%
revenue over expenses, this legal entity
Payroll share
83%
of this entity's spending is salaries & benefits
Program spending
76%
of expenses reach program services

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$2.1M
FY2023▼ -27%
Expenses
$3.5M
FY2023▲ +24%
Total assets
$463K
FY2023▼ -74%
Total liabilities
$172K
FY2023▲ +144%
Total revenue
$2.1M
Pt VIII · Ln 12
Total expenses
$3.5M
Pt IX · Ln 25
Net assets
$291K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1.4M
Total assetsPt X · Ln 16$463K
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 44
Mission & Programs · Part III

Where the work happens

1 program service account for $2.6M of program spending, described in the organization's own filed words · FY2022.
01

The program model encompasses four components designed to leverage local volunteer technical talent to teach coding and web development skills to students in order to push them through college and into stem careers.

$2.6Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCode 2 College
EINHdr · item D81-2361556
Principal addressHdr · item CPflugerville, TX
WebsiteHdr · item Jwww.code2college.org
Year of formationHdr · item L2016
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFYouth Development (O50)
Ruling yearIRS BMFJun 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Matt Stephenson
Executive Director
$350,000Pt VII · Sec A
Claire Polcrack
Chief of Staff
$127,083Pt VII · Sec A
Nehal Kenia
Board Member
$0Pt VII · Sec A
Nicco Mele
Board Member
$0Pt VII · Sec A
Krupa Vankayala
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Matt Stephenson’s $346K as CEO is at the 99th percentile of top reported officer pay among 1547 $1–10M youth development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Matt Stephenson$345,933$350,000$350,000$223,750$145,000$132,500
Claire Polcrack——$127,083———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$1.5M · 75%
Program service revenue$510K · 25%
Contributions & grants75%$1.5M
Program service revenue25%$510K
Total revenueLn 12$2.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.10 Fundraising $0.14
Program services76%$2.6M
Management & general10%$348K
Fundraising14%$501K
Total functional expensesLn 25$3.5M

Balance Sheet

Part X · end of year
CashLn 1$156K
Total assetsLn 16$463K
Total liabilitiesLn 26$172K
Total net assetsLn 32$291K
Months of cash on handcomputed0.5

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $156K · Operating expenses/yr $3.5M
0.5 months
Where the money goes
Program services
Program services $2.6M · Total expenses $3.5M
76%
Management & General
Management & general $348K · Total expenses $3.5M
10%
Fundraising
Fundraising $501K · Total expenses $3.5M
14%
Cost to raise $1
Fundraising expense (3-yr avg) $205K · Solicited contributions (3-yr avg) $1.7M
$0.12 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.5M · Total revenue $2.1M
75%
Government reliance
Government grants — · Total revenue $2.1M
—
Earned-income share
Program service revenue $510K · Total revenue $2.1M
25%
Investment reliance
Investment income $0 · Total revenue $2.1M
0%
Program self-sufficiency
Program service revenue $510K · Total expenses $3.5M
15%
Growth & trend
Revenue growth (YoY)
This year $2.1M · Prior year $2.8M
-27%
Net-asset trend (YoY)
End of year $291K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.1M · Expenses $3.5M
-69%
Liabilities-to-Assets
Total liabilities — · Total assets $463K
—
Net-asset ratio
Net assets $291K · Total assets $463K
63%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $463K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Matt Stephenson · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $350K · Total expenses $3.5M
10%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $2.9M · Total expenses $3.5M
83%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 76%——
Overhead ratio 10%——
Fundraising cost ratio 32%——
Revenue growth -27%——
Legal fee ratio 0%——
Accounting fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
American Online Giving Foundation INCFY2024$232K
The Denver FoundationFY2024$100K
Christian Community Foundation INCFY2024$100K
Breyer Family FoundationFY2024$100K
Network for Good INCFY2024$63K
Sooch FoundationFY2024$50K
Tingari FoundationFY2024$50K
Texas Mutual Insurance CompanyFY2024$40K
Total grants receivedfrom 11 funders$802K
See all 11 funders →
Grants paid · 1 grant · $14K · 2022–2022
Unitemized GrantFY2022$13,779

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$1.6M revenue · ⤓ 990 PDF
FY2023$2.1M revenue · viewing · ⤓ 990 PDF
FY2022$2.8M revenue · ⤓ 990 PDF
FY2021$2.3M revenue · ⤓ 990 PDF
FY2020$751K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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